AI is quickly transcending the business world as we know it, where to be successful in today’s digital climate companies must innovate and incorporate new technology.
Evisort is a fantastic example of this in practice, as a rising Legal tech firm that recently launched a careers website to revolutionize how legal companies interact with legal documentation. Evisort has already received high profile support from elite investors, suggesting a promising route for anyone who needs help to activate critical data within legal contracts.
Evisort’s Rise to the Forefront
Managing documents is a task that can detract from a company’s core competencies, typically time-consuming and a chore at the best of times. Evisort has capitalized on this niche, establishing a concept which alleviates the process.
CEO Jerry Ting has attracted a huge buzz across tech news media, consolidated with $4.5 million in investor backing to support continued growth. The company has since added tech veteran’s Alex Su and Francisco Meza to the melting pot, contributing to an already established, experienced team that can deliver maximum value to consumers.
Evisort is looking to become the ‘Google for contracts’, using AI algorithms to facilitate data mining from contracts with deep learning systems which can extract valid meaning from advanced data. This means companies will no longer need to manually deal with legal documents, a huge time-saving initiative for professionals and legal departments.
How Does the Process Work?
The Evisort process is spotlighted as follows on the company website:
Classify: An AI algorithm sorts documents by type.
Extract: AI mines names, dates, addresses, terms and more.
Track: The system maintains liabilities, obligations, and renewals while integrating with other document handling software.
Report: AI generates compact reports on document data and contracts.
An AI System Which Reads Contracts
Appreciating the potency of an AI system ‘reading’ contracts requires a legal background to truly grasp the capabilities at hand. Legal professionals understand how time-consuming dealing with up to seventy legal documents per day can be.
It’s a burden that would typically fall into the lap of clerks, paralegals, data entry technicians, and others, where at times it’s difficult to leverage the manpower necessary to fulfill business objectives.
By introducing AI reading, Evisort has transformed the sector, with many applications within the legal field and beyond. When a computer can crunch through streams of information there are many transferable benefits across multiple industries.
In fact, Evisort has already earned clients in sports, media, healthcare and telecom industries.
What Does the Future Hold?
Investment in legal technology companies has increased dramatically over the past year alone, with some evidence suggesting it’s by as much as 700%! Evisort seems destined for great things, with the potential to become a household name over the next few years.
Any company with a payroll large enough to have a legal department will undoubtedly be swamped with paperwork, and since Evisort can fulfill these requirements it’s onto a winning philosophy. Jerry Ting has commented on how working on an early-stage startup has been an unforgettable experience, one which has set him on a personal journey that’s helped him build strong, organic bonds with colleagues.
Jerry appreciates the ownership he has over projects, creating a ‘playpen for geeks’ type atmosphere common throughout Silicon Valley.
From the dorm rooms of MIT to now, Evisort has a story not unlike Amazon. There are currently offices in Massachusetts, Boston, California and Silicon Valley, alongside recent announcements for a grand opening of new headquarters in San Mateo, California.
With significant growth anticipated in the coming months, Evisort is currently welcoming new candidates at a faster rate than they can apply!
A promising future for an exciting young startup set to revolutionize multiple sectors.